TPAS trials 'financial capability' tool ahead of guidance role

The helpline is already offering the online assessment tool on a trial basis to build up its experience of consumers and help them to understand their own financial capabilities. TPAS said this would help it to tailor its guidance when the new pensions freedoms are introduced next April. The tool, called Bambooing and developed by Suitable Strategies, measures savers' risk aptitude alongside their understanding of key financial terms and their level of engagement. It will also allow TPAS to find out more about the types of consumer seeking guidance via its telephone service, enabli...